Best Thread Correlation Trading - Basic Ideas and Strategies

[stephensteve]

Hi again, I have been observing the Excellent Corrie all avo..!!

Here is another screen for everyone's viewing, I think 15 mins is too fast for me at the mo..!!

I will try to get on here with a 1 hour 2mr0



I have closed the Gold and am now looking for EUR/US, great stuff...!!!

 

[NVP]

mornin all ....heres the week

lets see what GBP can do ......cant get worse can it ?

N

 

[stephensteve]

Hi all, g'morn. Thanks again for all the helpful answers from all, especially NVP of course,

I am working on the Corrie for a couple of hours and would like to ask a question or two if you don't mind,
NVP states the scalp guides as S/L 10 TP 5-8 on the 15 min chart....

so on the 30 min chart could I place a bigger s/l and go for a bigger profit..ie s/l 15 and tp 30...???

I also would love to look at the 1 hour chart, perhaps 20/40..??

What do you think???
Cheers, Steve

 

[stephensteve]

Hi again, I am adding a thought (where I went wrong)that I had been trying to get a big move rather than take a profit, my gains went into reverse and stopped me out at a loss

decisions, decisions...!!!

 

[NVP]

Hello friends. The FX correlator does not load on my MT4

Did anyone else have such a problem? if so how did u fix that?

Thanks in advance DD

if you are seeing a blank indicator - its usually the syntax in the settings area............your broker is adding letters after the chart names and you need to get that coding into the indicator for it to recognise the coding

I think my document explains this in the signature area
N

 

[NVP]

View attachment 156992

Hi, this is a chart for your perusal, I have demo account traded both Gold/US and AUD/US.

I am watching and waiting, this is so cool..!!

Cheers, Steve

Goldmeter as well ?............dude you are rockin !

 

[NVP]

View attachment 156992

Hi, this is a chart for your perusal, I have demo account traded both Gold/US and AUD/US.

I am watching and waiting, this is so cool..!!

Cheers, Steve

looks good .....

 

[NVP]

Hi all, g'morn. Thanks again for all the helpful answers from all, especially NVP of course,

I am working on the Corrie for a couple of hours and would like to ask a question or two if you don't mind,
NVP states the scalp guides as S/L 10 TP 5-8 on the 15 min chart....

so on the 30 min chart could I place a bigger s/l and go for a bigger profit..ie s/l 15 and tp 30...???

I also would love to look at the 1 hour chart, perhaps 20/40..??

What do you think???
Cheers, Steve

nononononononon :clap:


you scalp on the 5min charts not the 15m charts

then target wise you can scale that upwards the higher the timeframe

but dont restrict yuorself to targets above the 5min ....(thats a standalone scalping system)

when you are trading 15m upwards trade until you see classic Exit signals either using the FXcorrelator OR other methods ......higher TF's allow for more relaxed and considered exit ideas :smart:

N

 

[NVP]

Steve / all

take a look here .............I started a thread about exits a long time back

N

http://www.trade2win.com/boards/forex/117416-best-exit-strategies-forex-market.html

 

[NVP]

Hi again, I am adding a thought (where I went wrong)that I had been trying to get a big move rather than take a profit, my gains went into reverse and stopped me out at a loss

decisions, decisions...!!!

View attachment 157000

heres feedback dude.....the USD and Euro are on the same side....eh ?? ???

you can only enter trade when the USD and YEN are the same side ....and as soon as they are not you need to be locking in for possible exits :smart:

and ....on a 5min scalping system theres no locking in ....theres just bailing out !!!

N

 

[NVP]

hey all ....i'm busy today

may try to get some trading rolling later but not at the moment

N

 

[NVP]

hmmmm

plenty of euro bashing going on ....

N

 

[stephensteve]

Thanks v.v.v.v much for all the helpful info,

there is plenty to look at, I shall get on to it all today,

on another system that I use(3 ducks) i look at the 4 hour, then 1 hour, would I do better to wait until the bigger timeframes are telling the same tale on this system too ie 1 hour indicates, then 15 min, indicates too to confirm....???

Sorry to bombard you with so many questions, this is such a steep and great learning curve I am super keen to learn it all......I am a Corrie fan......!!!

have a great day, cheers, Steve

 

[stephensteve]

Hi, it approx midday here in Oz, 1 am UK time,

I thought I would post a chart on a bigger timeframe, I have some Gold looking good on the 30 mins, although not actually moving away from the US dollar, I will wait and watch, cheers....

 

[stephensteve]

slightly different on the 1 hour chart though,

 

[stephensteve]

he 4 hour chart is telling a good story,



This Gold watching is as good as it gets,,, great stuff.....

Reminds me of panning for gold in the mines, back in the old days,,yeeha..!!

 

[stephensteve]

I am finding more,



Showing the Dow above the 20 ma
US Dollar and yen below the zero
Aud above, albeit slightly,
I have gone long on AUD, will see how it goes,

cheers once more, Steve

 

[stephensteve]

Aud/US on the 15 min chart

Let's hope it goes up...

 

[stephensteve]

Steve / all

take a look here .............I started a thread about exits a long time back

N

http://www.trade2win.com/boards/forex/117416-best-exit-strategies-forex-market.html

Thanks for the NVP, that really is a great subject, a real 64 million dollar question,

It seems that no 2 traders exit the same, plenty of food for thought though,:smart::smart:

Cheers, Steve

 

[stephensteve]

Things have quietened down now, 2 pm in Oz and 3 am in UK

I have entered EUR/US and now it is looking a bit flat,

the 15 min chart is no longer signalling, but the daily chart all looks good, (DAILY CHART BELOW)

Do I stay in the trades based on the daily or bail based on the 15 mins???

Do I stick with the chart that had the entry signal to find my exit..??

questions, questions, would appreciate your valuable opinion,

thanks, Steve